I am for dismantling foreign aid and returning to the pre-McNamara Bank model of lender of last resort (countries look on the international capital market; then turn to the World Bank who may lend but on commercial terms). This idea is a step in the right direction - grants treated as contracts with terms and conditions and payment schedules that are based on performance and hands-off once the contract is signed. 
How to Protect Foreign Aid? Improve It
opinionator.blogs.nytimes.com
A new approach to foreign aid, Cash on Delivery, would base payments on results and give poor countries the freedom to develop their own solutions.
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